Today the long-anticipated joint venture betweenConde Nast, Hearst, News Corp, Time Inc and Meredith Publishing became official. These firms -- all of them up against the ropes in an effort to deal with declining magazine ad revenue and the lackluster performance of online ad models -- have decided that to face the digital future, they'd rather do it hand-in-hand.
The motivation for the union is simple: eReaders are taking over the book publishing world, meanwhile magazines are left in the dust, with no devices they can call their own.
I mean, really, have you tried to read Business Week on your eReader? It ain't pretty. And on the Kindle, most magazine publishers want to charge you for the painfully slow page turning experience of the device all in exchange for the convenience of automatic delivery to your portable device. So the industry -- seeing a world that is evolving without their interests in mind -- is joining hands to solve two problems:
I'm pleased to announce that Forrester's five year forecast is now complete and live on Forrester's site. It feels like this has been a long time in coming from my side too! Please see the full report for detailed explanations of the trends affecting overall marketing budgets and the growth of the channel in the forecast.
You may remember we previewed our forecast at Forrester's Marketing Forum at the end of April. If you cross reference this post to the one we posted as follow up to the forum, you will notice that the "% of all advertising spend" has changed. The absolute forecast is still the same, we just changed this calculation to make sure it was done in the same way as in years past. See below for the most recent release:
This research will certainly help marketers plan their channel strategies.
Microsoft announced today its Bing search engine, a "decision engine" that will replace live.com worldwide as of June 3. A distant third place in the search engine game, Microsoft hopes that this engine will help it gain more searcher share by delivering results and content more relevant to how users actually search. What makes Bing different from existing search engines?
I had breakfast last Friday with Robert Tas, CEO of Sportgenic an ad network and advertising management platform focused on targeting advertising to sports enthusiasts. He was in Boston meeting some agency partners (although he did manage to catch game 7 of the Celtics/Bulls series while in town!)
He shared a few observations based on ad sales at his business so far this year:
The results are in. And the collective effort of the four teams partipating in P&G's digital night sold 3,000 Loads of Hope t-shirts and raised $50,000 for charity. Tide actually matched the money raised, putting the total disaster relief donation to $100,000 for four hours of effort. Thank you to all who bought t-shirts!